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  • #9,701
  • Aug 11, 2011 6:57am Aug 11, 2011 6:57am
Hum...what to do what to do. Seeing strong resistance now........
  • #9,702
  • Aug 11, 2011 7:01am Aug 11, 2011 7:01am
Attached Image (click to enlarge)
Click to Enlarge Name: gu long 1h 61849.jpg Size: 144 KB

Took the GU long @ 61849. If it can bust through res. it has a lot of room to move.
  • #9,703
  • Aug 11, 2011 7:05am Aug 11, 2011 7:05am
Quoting Fitness09
Attachment
Took the GU long @ 61849. If it can bust through res. it has a lot of room to move.
In on same.
  • #9,704
  • Aug 11, 2011 7:09am Aug 11, 2011 7:09am
OK, here's the GBPUSD we've been talking about... for those who aren't seeing this right now. Signal's there. Candle's there. But that resistance at 1.6200? And how price has reacted to that recently. So what do you do? Enter? Dismiss it completely? I'll enter if price breaks resistance strongly during that 2nd candle's formation (And, gasp, even drill down to the 15m to monitor price action as closely as possible.) But that's technically breaking the rules isn't it? Hmmmm.

cableres.jpg
Attached Image (click to enlarge)
Click to Enlarge Name: cableres.jpg Size: 180 KB
  • #9,705
  • Aug 11, 2011 7:10am Aug 11, 2011 7:10am
Did anyone caught EChef today? What a clean cross and unexpected move. I missed it despite the fact that i was on the system.Over 500 pips fly? swiss just flown crazily today. Another day will come, anyway
Attached Image (click to enlarge)
Click to Enlarge Name: jjjjjj.gif Size: 35 KB
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #9,706
  • Aug 11, 2011 7:10am Aug 11, 2011 7:10am
I really need to start getting on the computer on the hour to check these candles!
  • #9,707
  • Aug 11, 2011 7:15am Aug 11, 2011 7:15am
Quoting DaveUK
Heya mate.

It would have to be a really strong burst through. Hell of a lot of resistance there across the 3 pairs. They're all trying to find momentum... could be up, could be down... until it gets moving, we'll never know!

Awkward one... Eelfranz has said over and over to only trade at the beginning of candle 1 or 2... so I don't really like to discuss not doing that (if you know what I mean ).

(Edit - and what pillock closed his USDCHF trade at +50 cos he had to rush out? Dagnabbit )
I actually think he mentioned if PA was strong enough he would jump in on the first candle.....cant be sure though??? maybe I am getting it mixed up.
50 pips!! why didnt you trail it?? God it went through the roof!! I read today the Swiss reserve were considering stepping in at some stage...maybe that was it??
  • #9,708
  • Aug 11, 2011 7:15am Aug 11, 2011 7:15am
Quoting DaveUK
OK, here's the GBPUSD we've been talking about... for those who aren't seeing this right now. Signal's there. Candle's there. But that resistance at 1.6200? And how price has reacted to that recently. So what do you do? Enter? Dismiss it completely? I'll enter if price breaks resistance strongly during that 2nd candle's formation (And, gasp, even drill down to the 15m to monitor price action as closely as possible.) But that's technically breaking the rules isn't it? Hmmmm.

cableres.jpg...
I'm out at BE. Will wait for more confirmation....or another trade.
  • #9,709
  • Aug 11, 2011 7:18am Aug 11, 2011 7:18am
Quoting Fitness09
Attachment
Took the GU long @ 61849. If it can bust through res. it has a lot of room to move.
?????man look at the difference in our tdi's...can some of you others post a 4 hour GU chart with pics of the tdi. Is mine out of whack??
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 159 KB
  • #9,710
  • Aug 11, 2011 7:19am Aug 11, 2011 7:19am
Quoting adeforex
Did anyone caught EChef today? What a clean cross and unexpected move. I missed it despite the fact that i was on the system.Over 500 pips fly? swiss just flown crazily today. Another day will come, anyway
I did catch this one for a nice 300 pips. I got stopped out.

So here's my question. I'm trying to figure out the best exit strategy. I was basically jumping my stop every 75 pips. So at +375 it trailed to 300 then retraced.

I could still be in this if I used Big E's TDI exit strategy but at the same time I want to protect profits.

What's everyone else doing...should I move to BE after +75 and then ride it out? What are your thoughts.
  • #9,711
  • Aug 11, 2011 7:20am Aug 11, 2011 7:20am
Attached Image (click to enlarge)
Click to Enlarge Name: gu h4.jpg Size: 155 KB

Here ya go.
  • #9,712
  • Aug 11, 2011 7:22am Aug 11, 2011 7:22am
Quoting dean
?????man look at the difference in our tdi's...can some of you others post a 4 hour GU chart with pics of the tdi. Is mine out of whack??
Here we go..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 109 KB
  • #9,713
  • Aug 11, 2011 7:23am Aug 11, 2011 7:23am
Sorry, mine is zoomed.
  • #9,714
  • Aug 11, 2011 7:23am Aug 11, 2011 7:23am
I entered EURCHF @1.04529 today but set it too early to BE and stopped out by the noise... But tomorrow is another day!

Quoting adeforex
Did anyone caught EChef today? What a clean cross and unexpected move. I missed it despite the fact that i was on the system.Over 500 pips fly? swiss just flown crazily today. Another day will come, anyway
  • #9,715
  • Aug 11, 2011 7:23am Aug 11, 2011 7:23am
Quoting RedMonkey
Here we go..
all good thanks...mine looks flat like that now too
  • #9,716
  • Aug 11, 2011 7:24am Aug 11, 2011 7:24am
Quoting dean
?????man look at the difference in our tdi's...can some of you others post a 4 hour GU chart with pics of the tdi. Is mine out of whack??
dean, your timeframe is set to 1 minute on that chart
  • #9,717
  • Aug 11, 2011 7:24am Aug 11, 2011 7:24am
Quoting DaveUK
OK, here's the GBPUSD we've been talking about... for those who aren't seeing this right now. Signal's there. Candle's there. But that resistance at 1.6200? And how price has reacted to that recently. So what do you do? Enter? Dismiss it completely? I'll enter if price breaks resistance strongly during that 2nd candle's formation (And, gasp, even drill down to the 15m to monitor price action as closely as possible.) But that's technically breaking the rules isn't it? Hmmmm.

cableres.jpg...
I got in after seeing your post. Got a quick $50 and got out. Thanks
  • #9,718
  • Aug 11, 2011 7:26am Aug 11, 2011 7:26am
Two trades setup before I head off to bed, one on AUD and one on EUR. Small SL.

Night.
  • #9,719
  • Aug 11, 2011 7:29am Aug 11, 2011 7:29am
Quoting spyderman
I did catch this one for a nice 300 pips. I got stopped out.

So here's my question. I'm trying to figure out the best exit strategy. I was basically jumping my stop every 75 pips. So at +375 it trailed to 300 then retraced.

I could still be in this if I used Big E's TDI exit strategy but at the same time I want to protect profits.

What's everyone else doing...should I move to BE after +75 and then ride it out? What are your thoughts.
I have had trouble with that too so here is my suggestion......its one I read today and thought it a great idea.
If you are in a trade and are leaving your computer...sure set a trailing astop.
But if you are happy to monitor it candle to candle then just try moving your stop up to the rear of each old candle 2 candles back....or another way is to move it just behind the ema becasue if it comes back onto the ema you should be getting out anyway.
  • #9,720
  • Aug 11, 2011 7:31am Aug 11, 2011 7:31am
Quoting dean
I actually think he mentioned if PA was strong enough he would jump in on the first candle.....cant be sure though??? maybe I am getting it mixed up.
No I think you're right. Bit of a dilemma this. I can see that Big E is saying get in only at start of candle... I think that's to simplify everything and make it as mechanical as possible. But to my mind, we're trading price, not candles. It goes against the grain to ignore what price action is clearly saying before entering a trade.

Quoting dean
50 pips!! why didnt you trail it?? God it went through the roof!! I read today the Swiss reserve were considering stepping in at some stage...maybe that was it??
Oh I know. I know. Currently wearing a hairshirt and standing in the corner with a dunce's hat on. Yes, there has been some intervention by the Swiss I believe.
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